Vehicle companies ridiculed "working for Ningde Times" to reflect the cost pressure of the new energy vehicle industry chain

On July 21, Ningde Times announced that in order to further meet market demand, the company intends to invest in the construction of a new energy battery industry base in Jining, Shandong, with a total investment of not more than 14 billion yuan. On the same day, the officials of Ningde Times sent news that the Ningde Times established a global strategic cooperative relationship with Ford Motors. It will supply lithium iron phosphate batteries from next year, and the supply scope of supply includes China, Europe and North America.

Earlier, it was reported that the Ningde Times was considering investing 5 billion US dollars (about 33.7 billion yuan) to establish more than two factories in Mexico to supply power batteries for Tesla and Ford Motors. People in the industry believe that the landing of the Jining base and the "desire" of the North American base are mainly due to the continuous and rapid growth of demand.

As the price of raw materials soared, the upstream and downstream games of the industrial chain intensified. Zeng Qinghong, chairman of Guangzhou Automobile Group, ridiculed at the 2022 World Power Battery Conference: "At present, the cost of power batteries accounts for 40%to 60%of the total cost of automobiles. Didn't I work for Ningde Times now?"

High -quality production capacity is still scarce under rapid expansion of production

It is reported that in the Ningde era, the company's planned capacity will reach more than 670GWh by 2025. From the perspective of future production capacity and company's existing capacity, the company's capacity gap in 2025 will not be less than 390GWh. Public information shows that the Ningde era has identified the twelve major bases (including Indonesia and Luoyang, China) worldwide, and the newly added Shandong Jining may become its 13th base.

According to a report issued by the Sneresearch institution on July 18, in the first half of this year, a total of 6 Chinese -funded power battery companies were shortlisted in the top ten in the world, with a year -on -year growth rate of more than 100%. In the top ten lists, in addition to the Ningde era, BYD and honeycomb energy have also reached 600GWH in 2025, and China Innovation Airlines' production capacity target was 500GWh in 2025. The sum of the production capacity of these four power battery companies alone exceeds 2300GWh in 2025.

Regarding the sharp expansion of battery capacity, Ouyang Minggao, an academician of the Chinese Academy of Sciences, expressed concerns about the overcapacity at the China Electric Vehicle Hundred Talents Forum in 2022. He believes that based on industrial investment information prediction, my country's battery production capacity may reach 1500GWh in 2023, 3000GWh in 2025, and battery shipments are expected to reach 1200GWh in 2025. Of course Exporting to overseas markets is 2025, battery capacity is expected to occur in 2025. "

In this regard, the Ningde Times admitted at the investment exchange meeting in May that "high -quality and effective production capacity is still scarce, and there is a problem of overcapacity of invalid production capacity."

As the "one brother" of power batteries, and the "one supply" of many core car companies, in the context of raw material price increases and demand growth, the sound of "too strong in Ningde Times" in the market began to appear. In this context, Zeng Qinghong's jokes of "working for Ningde Times" have attracted attention from all parties.

The industrial chain falls into the "work for upstream" spell?

At the 2022 World Power Battery Conference, Wu Kai, chief scientist in Ningde Times, also said: "Although the company has not lost money this year, it is also struggling at the edge of profit, which is very painful."

Causes the above situations or factors such as upstream raw materials price increases and supply and demand mismatch. The reporter noticed that in the first quarter of 2022, the operating cost of Ningde Times increased by 198.66%year -on -year, exceeding 44 percentage points of operating income, and a gross profit margin of only 14.48%. Essence

Since the second quarter of this year, the price of lithium salt has been maintained at a high level. Business club data shows that the current price of lithium carbonate is slightly explored. On July 21, the average price of battery -class lithium carbonate in East China is 47,8600 yuan/ton, and early Zhou (7 The 478,000 yuan/ton on the 17th) increased by 0.13%compared with.

"It is said that we are working for upstream raw material companies. It is indeed the same. It is the most crazy non -lithium salt since this year." Many battery manufacturers told the Securities Daily that in this case Paper price increase.

Public information shows that since the second half of last year, the Ningde era has risen at least twice, with a range of about 10,000 yuan. Some people in the industry believe that compared with the second -tier power battery manufacturers, the Ningde era has more right to speak and has strong bargaining ability.

Data show that in the first half of this year, the price of battery -level lithium salt products was at a historic high, and lithium salt manufacturers generally made a lot of money. Earlier, Ganfeng Lithium announced that the expected net profit was 7.2 billion yuan to 9 billion yuan in the first half of 2022, a year -on -year increase of 408.24%to 535.30%. Tianqi Lithium also released a semi -annual performance forecast. It is expected that the net profit attributable to shareholders of listed companies in the first half of 2022 is 9.6 billion yuan to 11.6 billion yuan, an increase of 110 to 134 times year -on -year.

The upstream and downstream of the industrial chain needs to cooperate, mutual benefit and win -win

For some third- and fourth -tier power battery manufacturers, it is not easy to digest the pressure of layers of conduction. Even when the prospect of the new energy vehicle market is good, some power battery manufacturers have fallen in June to decline. Essence

"The price increase of upstream raw materials will cause short -term disturbances to the industrial chain, but in fact, lithium resources are not the bottleneck of industrial development." Zeng Yuqun, chairman of Ningde Times, said at the 2022 power battery conference. The 160TWH lithium battery fully meets the global demand for power batteries and energy storage batteries. Most of the materials of the battery can be reused. At present, the company's nickel -cobalt manganese recovery rate has reached 99.3%, and the recovery rate of lithium is more than 90%. After 2035, we can use the materials in retired batteries to meet a large part of market demand. On the other hand, Ningde Times was still extending to more upstream subdivided fields to highly integrate supply chain resources and reduce production costs. For example, in February this year, Jiayuan Technology, a lithium battery copper foil supplier, stated that in order to plan the construction of a high -performance electrolytic copper foil project with an annual output of 100,000 tons, the company intends to establish a joint venture with the Ningde Times; It is said that the subsidiary Hua'an New Materials officially entered the Ningde Times supply chain system, mainly providing it with lithium battery -level PVDF products.

"In the era of traditional fuel vehicles, car companies are in a strong position in the industrial chain for a long time, but entering the era of new energy vehicles, this pattern is changing." Said the relevant person. (Reporter Li Ting Cao Qi)

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